Front Page: Big Three on Hill For Round Two of Begging

The CEOs of the Big Three automakers are back on Capitol Hill today asking for a bailout. This time they are joined by the chiefs of the United Auto Workers union. — New York Times

A federal judge has banned Bratz dolls just in time for Christmas, ordering MGA to immediately stop manufacturing the dolls. The judge's ruling came after a jury determined that the creator of Bratz developed the doll while working at Mattel. — CNN

Kenya's prime minister has called on fellow African governments to oust Zimbabwe's President Robert Mugabe. — BBC News

Officials from China and the US met today for high-level talks regarding the global economic crisis. China said it would continue its currency reform but also told the US to get its economy in order. — AP

Those CEO's probably have their salary paid as $1 a year. As you probably know, smart execs get paid in stock and cash it in at a lower tax rate whether it's long term cap gains or short term based on a lower than you'd expect income tax rate.

There is a big jump between flying a private jet and, say, biking from Detroit to DC. Why was taking a commercial flight just skipped over? It makes no sense.
Also, if the Ford CEO is really going to work for $1 a year, then his time isn't worth as much anymore :)

There is a big jump between flying a private jet and, say, biking from Detroit to DC. Why was taking a commercial flight just skipped over? It makes no sense.Also, if the Ford CEO is really going to work for $1 a year, then his time isn't worth as much anymore :)

Dave, if there was any chance of Congress doing that i would say screw the big 3 - but that's not going to happen. They figure they are all connected to the big 3 at the heart of the matter, fix the heart the rest of the body works rather then trying to fix every single company separately - which also makes some sense.
I honestly can't see how we are ever going to get out of this mess - maybe a depression is necessary and we have to be forced to rebuild everything from the ground up, who knows? But if that's the case, I don't even want to think about what it would be like in the "rebuilding" stages.

Dave, if there was any chance of Congress doing that i would say screw the big 3 - but that's not going to happen. They figure they are all connected to the big 3 at the heart of the matter, fix the heart the rest of the body works rather then trying to fix every single company separately - which also makes some sense.I honestly can't see how we are ever going to get out of this mess - maybe a depression is necessary and we have to be forced to rebuild everything from the ground up, who knows? But if that's the case, I don't even want to think about what it would be like in the "rebuilding" stages.

This "too big to fail" mentality has to end. We bailed out banks because they were too big to fail and it would ripple through the economy. Next we have to bail out the car companies because they are so big that their failures will ripple and cause a great depression. It's a bunch of crap. All we are doing is prolonging poor economic times by not allowing the market to work by itself.
We have bankruptcy laws for a reason. Bankruptcy doesn't = collapse.

This "too big to fail" mentality has to end. We bailed out banks because they were too big to fail and it would ripple through the economy. Next we have to bail out the car companies because they are so big that their failures will ripple and cause a great depression. It's a bunch of crap. All we are doing is prolonging poor economic times by not allowing the market to work by itself. We have bankruptcy laws for a reason. Bankruptcy doesn't = collapse.

I just read an article that says that not only are the Big 3 back in Congress, they are asking for more money than they did the first time (from $24 billion to $35 billion.. that's a hige increase).
WTF?

I just read an article that says that not only are the Big 3 back in Congress, they are asking for more money than they did the first time (from $24 billion to $35 billion.. that's a hige increase).WTF?

"I really hope congress says no to the big 3."
I really, really hate the CEOs, the management, and the idiots who came up with the idea of more 12mpg SUVs and bad marketing campaigns...
but then I think about how Michigan's economy relies on the big 3 almost completely. Without them i think something like 1.2 million jobs would be lost, taxes would be raised to make up the differences from the companies no longer being there, and TONS of other small businesses that are indirectly part of the big 3 network would disappear (such as the many, many companies that make auto parts for them and get 90% of their business from them).
If someone doesn't do something, Michigan would literally collapse - and from what I've seen, because the auto industry is a key component of the national economy, whatever happens in Michigan will usually spread everywhere else in due time - the recession started in MI long before it was an issue for anyone else.
I think something needs to be done, the only question is will a bailout be enough and can we put enough strings on a bailout so that the big 3 are forced to change their bad habits - or will this just prolong the inevitable.

"I really hope congress says no to the big 3."I really, really hate the CEOs, the management, and the idiots who came up with the idea of more 12mpg SUVs and bad marketing campaigns...but then I think about how Michigan's economy relies on the big 3 almost completely. Without them i think something like 1.2 million jobs would be lost, taxes would be raised to make up the differences from the companies no longer being there, and TONS of other small businesses that are indirectly part of the big 3 network would disappear (such as the many, many companies that make auto parts for them and get 90% of their business from them).If someone doesn't do something, Michigan would literally collapse - and from what I've seen, because the auto industry is a key component of the national economy, whatever happens in Michigan will usually spread everywhere else in due time - the recession started in MI long before it was an issue for anyone else.I think something needs to be done, the only question is will a bailout be enough and can we put enough strings on a bailout so that the big 3 are forced to change their bad habits - or will this just prolong the inevitable.

I think those CEO's should fly in on their private jets. Those guys make thousands of dollars an hour. It's a waste of their time to have to drive for political purposes.
Shame on Congress for making this an issue. Nobody has it more cushy than Congress, and they are getting paid by us.

I think those CEO's should fly in on their private jets. Those guys make thousands of dollars an hour. It's a waste of their time to have to drive for political purposes. Shame on Congress for making this an issue. Nobody has it more cushy than Congress, and they are getting paid by us.

I wonder if the big three is going to keep their word and not fly in their priavte jets. I think the GM exec was going to drive.
Yay!!! No more Bratz. I hate those things.
China told the US to get its economy in order. Why does that make me laugh? Trust me, if we could, we would.

I wonder if the big three is going to keep their word and not fly in their priavte jets. I think the GM exec was going to drive.Yay!!! No more Bratz. I hate those things.China told the US to get its economy in order. Why does that make me laugh? Trust me, if we could, we would.

I second that nya.
Is anyone going to be surprised if the Big 3 get a bailout? I am standing firm on my statement that these plans they have thrown together are nothing more than PR stunts to make Americans feel OK about forking over more tax dollars.
I have no love for the Bratz Dolls, but I am glad they are getting shut down for infringement, not content.
And a nice tap on the nose from the Chinese about our financial situation. I am not surprised.